According to the publisher, the gift card industry in the country is expected to grow by 10.8% on annual basis to reach US$0.7 billion in 2024.
The gift card industry in Philippines will continue to grow over the forecast period and is expected to record a CAGR of 9.0% during 2024-2028. Gift card market in the country will increase from US$0.7 billion in 2023 to reach US$1.0 billion by 2028.
The gift card industry is poised to record strong growth over the medium term in the Philippines. The thriving e-commerce market, coupled with enhanced digital payment infrastructure and smartphone penetration, are among the factors aiding the adoption of digital gift cards. This trend is projected to continue further in the Philippines in 2024, thereby supporting market growth over the medium term.
Several new businesses, across industry verticals, are expected to launch innovative gift card programs amid rising adoption of the payment tool. This will aid the competitive landscape in 2024. The industry will also receive growth support from government disbursement programs in 2024. Overall, the publisher maintains a positive growth outlook for the gift card market in the Philippines over the next three to four years.
Gift card market in 2023 was driven a wide range of factors, which supported growth across retail and corporate segments. The primary factors included growth of ecommerce, increased adoption to incentivize employees working remotely, digital gifting, and initiatives undertaken by government, hospitality, and travel industries to revive growth.
This report provides a detailed data centric analysis of gift card market, covering market opportunities and risks across a range of retail categories. With over 75 KPIs at country level, this report provides a comprehensive understanding of gift card market dynamics, market size and forecast.
2. Milestone Celebration
3. Self-Use
4. Other
2. Sales Incentive
3. Consumer Incentive
The gift card industry in Philippines will continue to grow over the forecast period and is expected to record a CAGR of 9.0% during 2024-2028. Gift card market in the country will increase from US$0.7 billion in 2023 to reach US$1.0 billion by 2028.
The gift card industry is poised to record strong growth over the medium term in the Philippines. The thriving e-commerce market, coupled with enhanced digital payment infrastructure and smartphone penetration, are among the factors aiding the adoption of digital gift cards. This trend is projected to continue further in the Philippines in 2024, thereby supporting market growth over the medium term.
Several new businesses, across industry verticals, are expected to launch innovative gift card programs amid rising adoption of the payment tool. This will aid the competitive landscape in 2024. The industry will also receive growth support from government disbursement programs in 2024. Overall, the publisher maintains a positive growth outlook for the gift card market in the Philippines over the next three to four years.
Indian gift card providers are forging strategic partnerships to widen the distribution of their products in the Philippines
The Philippines gift card market is poised to grow at a steady rate over the medium term. India-based gift card providers are targeting this growth through strategic partnerships and new product launches in 2024.- Qwikcilver, owned by Pine Labs, entered into a strategic partnership with foodpanda in December 2023. The two firms have collaborated to launch foodpanda Gift Cards. Initially, the gift cards will be made available for corporate customers of foodpanda in Singapore and Thailand.
- Going forward, however, the gift cards will be made available across all 11 markets where foodpanda operates, including in the Philippines. With a presence in over 400 cities, foodpanda is a leading player in the online food delivery and grocery delivery segment. This partnership is, therefore, expected to further strengthen the position of Qwikcilver as a leading gift card provider in the region over the medium term.
Government disbursement programs to aid the growth of Filipino gift card industry in 2024
To disburse monetary support to the underserved and underprivileged community in an efficient manner, government institutions make use of gift cards globally, and similar trends are emerging in the Philippines.- Parañaque City Government, in December 2023, disbursed Christmas gift cards to a total of 15,000 individuals with disabilities. Each of the beneficiaries, notably, received P2,000 worth of gift certificates. These gift cards are available to be redeemed at grocery stores, restaurants, and other food establishments.
Online marketplaces are introducing gift card solutions to expand portfolios and diversify revenue stream
With gift cards gaining strong popularity among Filipino nationals, online marketplaces are seeking to tap into the growing demand as part of their strategy to expand their portfolio and diversify their revenue stream.- PLDT Inc., the owner of an online marketplace catering to overseas Filipino workers (OFWs), has expanded its range of digital services to offer more options for customers to stay connected with their families back in the Philippines. Tindahan ni Bossing (TINBO), managed by PLDT Global Corp., launched gift vouchers and online shopping features on its platform in December 2023. This is part of the firm’s strategy to better address the needs of OFWs, while also targeting higher sales and growth of the platform. The gift vouchers are also available to be bought on e-commerce platforms like Lazada and Shopee through TINBO for their families in the Philippines.
Gift card market in 2023 was driven a wide range of factors, which supported growth across retail and corporate segments. The primary factors included growth of ecommerce, increased adoption to incentivize employees working remotely, digital gifting, and initiatives undertaken by government, hospitality, and travel industries to revive growth.
This report provides a detailed data centric analysis of gift card market, covering market opportunities and risks across a range of retail categories. With over 75 KPIs at country level, this report provides a comprehensive understanding of gift card market dynamics, market size and forecast.
Scope
Total Spend on Gifts in Philippines
- By Consumer Segment (Retail and Corporate)
- By Product Categories (13 Segments)
- By Retail Sectors (7 Segments)
Gift Card Market Size by KPIs across Consumer Segments in Philippines
- Gross Load Value
- Transaction Value
- Unused Value
- Average Value Per Transaction
- Transaction Volume
- Average Value of Card Purchased
- Number of Cards
Gift Card Market Size by Consumer Segment in Philippines
- Retail Consumer
- Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)
Digital Gift Card Market Size in Philippines
- By Retail Consumer
- By Retail Purchase Occasion
- By Corporate Consumer
- By Corporate Purchase Occasion
- By Company Size
Gift Card Market Size by Retail Consumer in Philippines
- By Functional Attribute
- By Occasion
2. Milestone Celebration
3. Self-Use
4. Other
- Value by Purchase Channel
Gift Card Spend by Consumer Behavior and Demographics in Philippines
- Consumer Purchase Behaviour
- Gift Card Buyer by Age Group
- Gift Card Buyer by Income Level
- Gift Card Buyer by Gender
Gift Card Market Size by Corporate Consumer in Philippines
- By Functional Attribute
- By Occasion
2. Sales Incentive
3. Consumer Incentive
- By Scale of Business
Gift Spend by Product Categories (Split by Retail and Corporate Consumers) in Philippines
- Food & Beverage
- Health, Wellness & Beauty
- Apparel, Footwear & Accessories
- Books & Media Products
- Consumer Electronics
- Restaurants & Bars
- Toys, Kids, and Babies
- Jewelry
- Sporting Goods
- Home & Kitchen Accessories & Appliances
- Travel
- Entertainment & Gaming
- Other
Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers) in Philippines
- Ecommerce & Department Stores
- Restaurants & Bars
- Supermarket, Hypermarket, Convenience Store
- Entertainment & Gaming
- Specialty Stores
- Health & Wellness
- Travel
Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers) in Philippines
- Gift Card Online Sales
- Gift Card Offline Sales
- 1st Party Sales
- 3rd Party Sales
- Sales Uplift
Gift Card Sales Estimates by Key RetailersReasons to buy
- In-depth understanding of gift card and incentive card market dynamics: Understand market opportunity, key trends and drivers along with five-year forecast (2019-2028) for gift cards and incentive cards in the Philippines.
- Develop market specific strategies: Identify growth segments and target specific opportunities across consumer segments and occasions to formulate your gift cards strategy; assess market specific key trends and risks.
- Get insights into consumer attitude and behaviour in the Philippines: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through gift cards for both retail and corporate consumers.
- Get complete perspective through six essential KPIs: number of cards in circulation, load value, unused value, average purchase value, average value per transaction, and value of transactions.
- Distribution channel insights: Understand gift cards sales dynamics by channels - online vs offline and by 1st party vs 3rd party sales.
Table of Contents
1 About this Report
2 Philippines Total Gift Spend Analyzer
3 Philippines Retail Consumer Gift Spend Analyzer
4 Philippines Corporate Consumer Gift Spend Analyzer
5 Philippines Gift Card Spend Analyzer
6 Philippines Digital Gift Card Spend Analyzer
7 Philippines Gift Card Spend Share by Demographics and Purchase Behaviour
8 Philippines Retail Consumer Gift Card Spend Analyzer
9 Philippines Retail Consumer Gift Card Spend Analysis by Functional Attribute, 2019-2028
10 Philippines Retail Consumer Gift Card Spend Analysis by Occasion
11 Philippines Corporate Consumer Gift Card Spend Analyzer
12 Philippines Corporate Consumer Gift Card Spend Analysis by Functional Attribute
13 Philippines Corporate Consumer Gift Card Spend Analysis by Occasion
14 Philippines Corporate Consumer Gift Card Spend Analysis by Company Size
15 Philippines Corporate Consumer Gift Card Spend Analysis by Company Size X Functional Attribute
16 Philippines Gift Card Spend Analysis by Distribution Channel
17 Philippines Gift Card Spend Analysis by Retail Sector
18 Philippines Retail Consumer Gift Card Spend Analysis by Retail Sector
19 Philippines Corporate Consumer Gift Card Spend Analysis by Retail Sector
Companies Mentioned
- Puregold Price Club
- Savemore
- The SM Store
- Mercury Drug
- Robinsons Supermarket
- SM Hypermarket
- SM Supermarket
- New City Commercial Corporation Mall
- Rustan’s Supermarket
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 268 |
Published | February 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 0.7 Billion |
Forecasted Market Value ( USD | $ 1 Billion |
Compound Annual Growth Rate | 9.0% |
Regions Covered | Philippines |
No. of Companies Mentioned | 9 |